It seems like dead money, waiting for the merger. Why shouldn't I take $11.14 now instead of $11.15 two months from now? Why should I take the risk that the merger collapses and the stock price tanks? Can anyone explain?
Dead money for three or four weeks: the price was lower until approval, once approved it is just under the conversion price. It will cost you $ 0.01 per share plus commission to sell early, if you hold on you should get $ 11.15 per share and it should not require a commission. I am going to wait for the conversion myself.
The last time I went through a merger, I got charged $25 by E*Trade for some conversion fee or another. I believe Ameritrade has a similar charge. If that small amount matters to you, then you might be better off to sell for 11.14 and pay the $9.95 commission.
The price seems to imply that the merger will close in the next few days. I have not been able to find any announcements. The stock was still trading around 11.07 as recently as a week ago. Given the price, I'd be surprised if the deal doesn't close in the next couple of weeks.